Buick Riviera: Need a Program (no BJ)

[Buick Riviera]

I'm looking for a simple, cheap (hopefully free) program that can give me the balance due on a loan or account that has a fixed interest rate but irregular payments.

For example: Joe owes Buick on a note $X at Y% interest payable in full one year later. If Joe decides to make some payments, they will be first applied to interest and then the principal.

Over the course of the year he makes some payments of irregular amounts at irregular intervals. What is the balance due at any given point in time?

I know how to do the computations with a pencil and paper but I'm too lazy and have too many accounts to compute.

Is there a simple program or web site out there that can do the work for me? And (respectfully) please don't tell me to use Excel because at Excel I do not excel.

Thanks in advance,
Buick

[Wildcard]

> I'm looking for a simple, cheap (hopefully
> free) program that can give me the balance
> due on a loan or account that has a fixed
> interest rate but irregular payments.

> For example: Joe owes Buick on a note $X at
> Y% interest payable in full one year later.
> If Joe decides to make some payments, they
> will be first applied to interest and then
> the principal.

> Over the course of the year he makes some
> payments of irregular amounts at irregular
> intervals. What is the balance due at any
> given point in time?

> I know how to do the computations with a
> pencil and paper but I'm too lazy and have
> too many accounts to compute.

> Is there a simple program or web site out
> there that can do the work for me? And
> (respectfully) please don't tell me to use
> Excel because at Excel I do not excel.

> Thanks in advance,
> Buick

Not sure if this will be the answer you're looking for, but...

I use a Texas Instruments BA-35 Solar calculator for general computations like balancing my checkbook. There is also a BA-11 as I recall with other features.

However, this is a Business Analyst calculator that allows you to play "what if". You can easily compute mortagage interest based upon number of payments, interest rate, present and future value. You can create scenarios by simply changing data values as you wish. i.e., if I add $500 a month to my mortgage, how many payments will I have left based upon "x" principle. And, if I refinance from 7.5% to 6.0%, what would the payments be on a principle of "x" dollars.

It has other features as well.

I've managed to misplace the booklet that came with the calculator, but I recall it had extensive examples inside to compute a host of situations beyond what I've mentioned above.

Perhaps a trip to the local WalMart will find these as cheap as $15 or less. If possible, try to look at the booklet and see if the calculator will serve your needs. Unfortunately, many are shrink wrapped with titaniumn like plastic.

Good luck.

BTW, always enjoy your posts!

Wildcard

[AsZehn]

If you can give me the following data & an address I can create an amoritzation table for you detailing principal, interest and balance at the end of each payment, provided we aren't talking about a ridiculus number of payments. I would need to know;

original balance & date of loan
interest rate
date of payments and amount
is the interest calculated on a 360 day year or 365 day year.

AZ

[wyrstle]

> I'm looking for a simple, cheap (hopefully
> free) program that can give me the balance
> due on a loan or account that has a fixed
> interest rate but irregular payments.

I'd suggest a search at tucows.com or shareware.com.

Wyrstle